Broadcom posts Q4 profit but loses $960 million in '03

IRVINE, Calif. -- Broadcom Corp. said revenue for the fourth quarter of 2003 was a record $479.1 million, an
increase of 12.6 percent from the $425.6 million reported for the third quarter of 2003 and an increase of 61.9 percent from the $295.9 million reported for the fourth
quarter of 2002.

Net income was $6.1 million, or $.02 per share, compared with a GAAP net loss of $6.3 million, or minus $.02 per share, for the third quarter of 2003, and a GAAP
net loss of $1.758 billion, or minus $6.40 per share, for the fourth quarter of 2002.

Net revenue for the year ended December 31, 2003 was $1.610 billion, an increase of 48.7 percent from the $1.083 billion reported for 2002. GAAP net loss for the year was
$959.9 million, or minus $3.29 per share (basic and diluted), compared with a loss of $2.237 billion, or minus $8.35 per share, for the year ended December 31, 2002.

"Our fourth quarter results mark the close of what has been a remarkable year for Broadcom," said Alan E. "Lanny" Ross, Broadcom's president and CEO, in a statement. "In the fourth quarter, we generated record revenue of $479.1 million, driven by successfully expanding the revenue generated across all of our business groups."